Download The mean rent for a one-bedroom apartment in

The mean rent for a one-bedroom apartment in Southern California is $1,200 per month. The
distribution of the monthly costs does not follow the normal distribution. In fact, it is positively skewed.
What is the probability of selecting a sample of 50 one-bedroom apartments and finding
the mean to be at least $950 per month? The standard deviation of the sample is $250.
Since sample size is large 50 (>30), we can assume that the sample distribution is
normal. Hence
P(the mean to be at least $950 per month)
=P( >=950)
=P((-1200)/(s/n1/2) > (950-1200)/(s/n1/2))
= P((-1200)/(s/n1/2) > -7.07) = 1- (-7.07) =1 (approximation)
that is, the probability of the mean of 50 one-bedroom to be at least $950 is almost 1.